Buyer terminating contract days before closing

[Matthew Russell]

Hi - I have a single family home under contract (as the seller) in North Carolina (it is a cash buyer so no financing contingencies). We have been under contract for a few weeks and have completed inspection negotiations and passed the due diligence date. The closing is in 4 days, and the buyer reached out today wanting to terminate the contract due to cold feet and “the volatile stock market”. There are no remaining applicable contingencies. Obviously we are passed due diligence period so I have long deposited that check and will be pursuing the earnest money. Is there any other recourse I can take against the buyer to recoup any costs or decrease in eventual sale price?

thanks. 

[James York]

@Russell Brazil the NC standard OTP expressly prohibits this. If he used a different contract then maybe. Otherwise, it’s emd and ddf and back to the market.